banknifty future technical analysis for 31 march 2016

Banknifty future last closed at 16149 with gain of 435 points. In intraday banknifty future almost given 450 points rally from low. Here next target is at 16550 as given by me. But on downside 15900 and 15700 are support zone as well as reentry points with stop loss. From bottom banknifty now almost rallied 3000 points so investors must stay cautious as expect 1000-1500 points’ correction in next 2 months. Both major indices are near top!! Option traders must book profit in call options and can buy again near supports with stop loss.

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